Credit One Prequel and stated credit score?

[Anonymous]

Thanks @Finstar

[Remedios]

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@Anonymous wrote:

I mean I get what your saying to not sweet this Credit None but that stuff annoys when they pull out false info, Im going open a case with the CFPB (which will do nothing) but have Credit None have someone do work on thier end to answer the complaint ...Enough complaints at some point will open eyes with them....Yes Id like to add 2 more cards within the next 3 months spaced apart pulls too

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OP, I am sorry you're having to deal with this, Credit One is a terrible lender, but their letter clearly states they use your CR to create internal score. All of the lenders do that for approvals/denials. 

HP only provides them with raw data. Lender *interprets* this based on their own criteria.  

I suggest you move on to the bigger and better things. 

[Anonymous]

@remedios I am aware they use my CR , was even on the phone with them yesterday. They problem I have is they are using false information to deny on basis ofdelinquencies,  inquires, balances? The one card I have is the only right they can ding me for, the other items No because those items are not on my reports. While everyone knows them as a terrible lender, if more people made complaints against them, maybe things would change. I am just that type of guy to stand up for my rights

[Anonymous]

I’m curious....you seemed aware of Credit One’s reputation are a predatory lender for rebuilding, before you applied.

You knew your score was very high. Why did you even apply at someplace like that when you could get cards from major banks?

[Anonymous]

Actually was un-aware of Credit One’s reputation are a predatory lender until you told me. They were a credit card company that came up in pre-qual when I did a google search, I was just testing the soft pulls only. This forum is great and full of information, the problem with applying for larger banks is wondering if the blacklist has fallen off. I remember I tried to apply for a WellsFragos bank account in 2015 when my charge offs fell, I was denied, They did a soft pull again in 2018, I was approved and asked if they could see if I still had accounts with them, they pulled up my charge offs from 2008 still in the system, that was well over 10 years ago. So I dont want to waste a hard inquiry when I do go apply for credit

[Anonymous]

I applied for and was approved for a Credit One card, via pre-qual. It was a junk approval that they gave me, something like $75 yearly fee, high APR%, and no grace period with which to pay the balance without incurring interest. I forgot to save a copy of the terms when I applied, so I had to wait til I recieved it to look into it further, which is when I saw the no grace period part. I get that my credit stinks (many medical bills on my report), but I was willing to face a yearly fee for it, just for long enough to bump me up enough to get a better card, but no grace period is just slimey. Ultimately, I called them and told them I was declining the card due to the lack of grace period, and they were surprisingly cheerful about deactivating the account. I'm guessing it must occur often enough that it doesn't phase them any more. They didn't even try to talk me out of it, either.

I agree, they do come across as preditory, and they have dozens of different cards with all kinds of different terms, a whole lot of them with no grace period. It sucked a little to get rid of the one card I was finally approved for, but it would have been a terrible decision to keep it.

[Anonymous]

Forums like this are here to bring out the experiences consumers have had with different companies. Companies like Credit One dont deserve to have consumers at all, and forums like this can change the experience for others, I will file a complaint with the CFPB and leave it at that. All I can say I least I did my part, the forum has the power to help also. Thanks for the advice everyone and educating me on Credit One. 

[Anonymous]

Credit1 got me started with my rebuild last year. I am appreciative to them for that. I had no idea, at the time, that they are what they are. And at the time, didn’t think I had any other options (thanks Credit Karma). In the next week that card will be PIF and closed.

[Anonymous]

Btw I was in the same situation. Burned some major banks with long memories.

Take a look at CAPITAL One. Similar name (and logo). Their prequalification site is rock solid. No hard pull and they will get usually offer you a few cards to pick from. Even if you burned them they will let you back in.

Discover is also very forgiving.

Btw many people suspect Credit One is happy people think they are Capital One

[Anonymous]

While I would never suggest closing an account even with the stuff Credit One is doing, Id still use that as a payment history card and charge a small amount and pay it off every month, even if it had no grace period. I mean I could deal with $1 interest,  payment history is better than no history. 

@Morpho Cap 1 is my only card for the past 4 years small line of $500 from Quicksilver 1 to Platiumn to Venture 1 with a $4500 limit, which has been the slowest CI card Ive ever had. But now just using it to pay my cellphone bill every month and getting that payment history